Canoo (GOEV) ROCE %: 6.76% (As of Sep. 2024)


GOEV Canoo Inc GOEV
23 GF Score
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What is Canoo ROCE %?

Canoo GOEV 23 ROCE % is 6.76% as of Sep. 2024. GuruFocus rates GOEV with a GF Score™ of 23/100.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Canoo's annualized ROCE % for the quarter that ended in Sep. 2024 was 6.76%.

Canoo  (OTCPK:GOEV) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Canoo ROCE % Related Terms

Canoo ROCE % Historical Data

* Premium members only.

The historical data trend for Canoo's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Canoo ROCE % Chart

Canoo Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
ROCE %
-280.19 -50.74 -80.88 -145.98 -93.27

Canoo Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -129.38 -33.70 -119.90 -3.94 6.76
GOEV
23GF Score
Canoo Inc GOEV
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Canoo ROCE % Calculation

Canoo's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=-296.484/( ( (496.472 - 218.278) + (542.005 - 184.447) )/ 2 )
=-296.484/( (278.194+357.558)/ 2 )
=-296.484/317.876
=-93.27 %

Canoo's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Sep. 2024 )  (Q: Jun. 2024 )(Q: Sep. 2024 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Sep. 2024 )  (Q: Jun. 2024 )(Q: Sep. 2024 )
=22.624/( ( (543.322 - 195.026) + (523.289 - 202.344) )/ 2 )
=22.624/( ( 348.296 + 320.945 )/ 2 )
=22.624/334.6205
=6.76 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 6.76% mean?
Canoo (GOEV) has a ROCE % of 6.76% as of Sep. 2024.
Is Canoo's ROCE % too high?
Canoo's current ROCE % is 6.76%. The Vehicles & Parts industry median ROCE % is 7.94. Canoo's value of 6.76% is 14.9% below this industry median. Overall, Canoo has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.
How does Canoo's ROCE % compare to DMN and EVTV?
Canoo's ROCE % of 6.76% can be compared against companies in the Vehicles & Parts industry. The industry median ROCE % is 7.94. Canoo's value of 6.76% is 14.9% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Vehicles & Parts company?
The median ROCE % among Vehicles & Parts companies is 7.94, based on 1,319 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canoo's current ROCE % of 6.76% is 14.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Vehicles & Parts industry, the median ROCE % is 7.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canoo's current ROCE % is 6.76%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Canoo stock overvalued right now?
Canoo (GOEV) has a current ROCE % of 6.76%. The current ROCE % is 6.76% and 14.9% below the Vehicles & Parts industry median of 7.94. Canoo's overall GF Score™ is 23/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Canoo (GOEV), the current ROCE % is 6.76% as of Sep. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Canoo Business Description

Address 19951 Mariner Avenue, Torrance, CA, USA, 90503
Canoo Inc is a mobility technology company providing with a proprietary modular electric vehicle platform and connected services initially focused on commercial fleet, government and military customers. The Company has developed a breakthrough EV platform that it believes will enable it to rapidly iterate and bring new products, addressing multiple use cases, to market faster than competition and at lower cost.
23GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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